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Swachh Bharat Cess on all taxable services from 15.11.2015
Swachh Bharat Cess on all taxable services from 15.11.2015
Swachh Bharat Cess on all taxable services from 15.11.2015
PRESS NOTE BY CBEC on
06.11.2015
In Budget, 2015, a
provision was made for levying a Swachh Bharat Cess on all or any of the
services, for the purposes of financing and promoting Swachh Bharat initiatives
or for any other purpose relating thereto.
In India we people face lot of problems with that of diseases like malaria, dengue etc. So the Govt has taken an initiative to provide fund to meet all medical expenses by imposing 50.paise on Rs.100 as a Swachh Bharat cess on all Taxable Services. This is an great initiative to improve the medical facilities in India and make India No.1.
RELATED NOTIFICATION
IS AS FOLLOWS
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New
Delhi, the 6th November, 2015
Notification No. 22/2015-Service Tax
G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of
section 93 of the Finance Act, 1994 (32 of 1994) read with sub-section (5) of
section 119 of the Finance Act, 2015 (20 of 2015), the Central Government,
being satisfied that it is necessary in the public interest so to do, hereby
exempts all taxable services from payment of such amount of the Swachh Bharat
Cess leviable under sub-section (2) of section 119 of the said Act, which is in
excess of Swachh Bharat Cess calculated at the rate of 0.5 percent. of the
value of taxable services:
Provided that Swachh
Bharat Cess shall not be leviable on services which are exempt from service tax
by a notification issued under sub-section (1) of section 93 of the Finance
Act, 1994 or otherwise not leviable to service tax under section 66B of the
Finance Act, 1994.
This notification
shall come into force from the 15th day of November, 2015.
[F.No.
354/129/2015 – TRU]
(K. Kalimuthu)
Under Secretary to the Government of India
Under Secretary to the Government of India
Types of Audits
Types of Audits and Reviews:
- Financial Audits or Reviews
- Operational Audits
- Department Reviews
- Information Systems Audits
- Integrated Audits
- Investigative Audits or Reviews
- Follow-up Audits
A
historically oriented, independent evaluation performed for the purpose of
attesting to the fairness, accuracy, and reliability of financial data. CSULB's
external auditors, KPMG, perform this type of review. CSULB's Director of
Financial Reporting coordinates the work of these auditors on our campus.
Operational Audit
A
future-oriented, systematic, and independent evaluation of organizational
activities. Financial data may be used, but the primary sources of evidence are
the operational policies and achievements related to organizational objectives.
Internal controls and efficiencies may be evaluated during this type of review.
Department Review
A current
period analysis of administrative functions, to evaluate the adequacy of
controls, safeguarding of assets, efficient use of resources, compliance with
related laws, regulations and University policy and integrity of financial
information.
Information Systems (IS) Audit
There are
three basic kinds of IS Audits that may be performed:
- General Controls Review
A review of the controls which govern the
development, operation, maintenance, and security of application systems in a
particular environment. This type of audit might involve reviewing a data
center, an operating system, a security software tool, or processes and
procedures (such as the procedure for controlling production program changes),
etc.
- Application Controls Review
A review of controls for a specific application system.
This would involve an examination of the controls over the input, processing,
and output of system data. Data communications issues, program and data
security, system change control, and data quality issues are also considered.
- System Development Review
A review of the development of a new application
system. This involves an evaluation of the development process as well as the
product. Consideration is also given to the general controls over a new
application, particularly if a new operating environment or technical platform
will be used.
Integrated Audit
This is a
combination of an operational audit, department review, and IS audit
application controls review. This type of review allows for a very
comprehensive examination of a functional operation within the University.
Investigative Audit
This is
an audit that takes place as a result of a report of unusual or suspicious
activity on the part of an individual or a department. It is usually focused on
specific aspects of the work of a department or individual. All members of the
campus community are invited to report suspicions of improper activity to the
Director of Internal Auditing Services on a confidential basis. Her direct
number is 562-985-4818.
Follow-up Audit
These are
audits conducted approximately six months after an internal or external audit
report has been issued. They are designed to evaluate corrective action that
has been taken on the audit issues reported in the original report. When these
follow-up audits are done on external auditors' reports, the results of the
follow-up may be reported to those external auditors.
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